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The <keyword id="19897865" type="General" weightage="20" keywordseo="telangana-government" source="keywords">Telangana Government</keyword> on Tuesday requested the 16th <keyword id="20015455" type="General" weightage="20" keywordseo="finance-commission" source="keywords">Finance Commission</keyword> to increase the share of states in <keyword id="386992" type="General" weightage="100" keywordseo="central-taxes" source="Orion">Central taxes</keyword> from the existing 41 per cent to 50 per cent as over the years cesses and surcharges that are not shared with states have increased. Deputy Chief Minister in-charge of Finance <keyword id="21396591" type="General" weightage="20" keywordseo="bhatti" source="keywords">Bhatti</keyword> Vikramarka in his speech at the meeting with Finance <keyword id="19933395" type="General" weightage="20" keywordseo="commission" source="keywords">Commission</keyword> Chairman <keyword id="20016026" type="General" weightage="20" keywordseo="arvind-panagariya" source="keywords">Arvind Panagariya</keyword> and members also urged the finance panel to ensure that states are given the necessary autonomy to tailor <keyword id="20109166" type="General" weightage="20" keywordseo="css" source="keywords">CSS</keyword> (centrally-sponsored scheme) programmes to their specific development needs. "In addition, we propose increasing the share of states in Central taxes from 41 per cent to 50 per cent. Over the years, cesses and surcharges that are not shared with states have increased, leaving states with a smaller share of total gross tax revenue," he said. Increasing the vertical devolution will give states the fiscal space they need to strengthen welfare programmes, address infrastructure gaps and prioritise local development, he further said. He, however, said it is not just a demand for <keyword id="19909031" type="General" weightage="20" keywordseo="telangana" source="keywords">Telangana</keyword> but for all states, ensuring a more cooperative federal structure that will benefit the nation as a whole. Bhatti further said the state government urges the Finance Commission to reconsider the use of per capita income distance as the primary indicator in determining horizontal devolution as measuring prosperity and well-being solely by per capita income would deny Telangana the resources needed to address the inequities that exist within the state. The state government is suggesting that the formula for horizontal devolution be modified to add at least a 50 per cent weightage to <keyword id="20149362" type="General" weightage="20" keywordseo="gsdp" source="keywords">GSDP</keyword> (gross state domestic production) contribution. "A greater weight on GSDP would incentivise states to adopt reforms that improve productivity, attract investment and create jobs, ultimately contributing to the national economy. This approach would not only make states more competitive but also help reduce regional disparities, encouraging more balanced growth across the country," he opined. Pointing out that certain expenditures for schemes such as Rythu Bharosa, farm loan waivers and food subsidies are often mislabelled as "freebies," he urged the Commission to recognise these programmes as necessary investments in the welfare of our people. He mentioned that a large part of the state's resources is now being diverted toward debt servicing and hence requested the Finance Commission's support in either restructuring this debt or providing additional assistance to help free up resources for further development. The 16th Finance Commission, led by its chairman Arvind Panagariya, held meetings with several political parties, representatives of local bodies and industry chambers here on Monday as part of its visit to Telangana.

Telangana urges 16th Finance Commission to increase states' share in Central taxes to 50%

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

State-owned <keyword id="20039085" type="General" weightage="20" keywordseo="Coal-India-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Coal India Ltd" meta.hostid="261" meta.entityid="Coal India Ltd">Coal India Ltd</keyword>'s contribution to the <keyword id="21546749" type="General" weightage="20" keywordseo="government-exchequer" source="keywords">government exchequer</keyword> increased by 6.4 per cent to Rs 60,140.31 crore in <keyword id="19910780" type="General" weightage="20" keywordseo="FY24" source="keywords">FY24</keyword>, over the financial year 2022-23. <keyword id="19903245" type="General" weightage="20" keywordseo="Coal-India" source="keywords">Coal India</keyword> Ltd (CIL), which accounts for over 80 per cent of domestic coal output, paid Rs 56,524.11 crore to the government exchequer in FY23, according to provisional figures of the coal ministry. Total levies paid to the government in March 2024 also went up by 14.8 per cent to Rs 6,069.18 crore from Rs 5,282.59 crore paid in the corresponding month of FY23. Of the total Rs 60,140.42 crore paid to the government exchequer in FY24, maximum amount of Rs 13,268.55 crore was made to the state government of Jharkhand, followed by Rs 12,836.20 crore to the Odisha government, Rs 11,890.79 crore to Chhattisgarh, Rs 10,865.96 crore to Madhya Pradesh, and Rs 6,188.89 crore to Maharashtra among others. The coal-producing states earned the <keyword id="19945274" type="General" weightage="20" keywordseo="revenue" source="keywords">revenue</keyword> from royalty, District Mineral Foundation (DMF) and National Mineral Exploration Trust (NMET) among others. The government had earlier said that the coal-producing states earned a revenue of Rs 1.52 lakh crore in the last nine years from royalty, DMF and NMET. Coal mining sector has proved to be a big booster for the economic growth of the states that produce fossil fuel. State governments are entitled to receive 14 per cent of royalty on the sale price of coal and 30 per cent of the royalty as contribution towards the proposed district mineral foundations (DMFs)-- which is meant to support project-affected people---and two per cent of NMET from dry-fuel produced by the coal companies and also the private sector. In case of captive, commercial mines states are also entitled to receive the revenue share offered by the auction holder in a transparent bidding process. Apart from this, state governments also benefit from increased employment, land compensation, increased investment in allied infrastructure like railways, road and several other economic benefits. Coal India's production and off-take are pegged at 838 MT for FY'25. SEE ALSO:<a href="https://www.businessinsider.in/finance/banks/news/following-kotak-mahindra-banks-strong-q4-numbers-analysts-reset-stock-target-up-to-1900-worried-about-reputation-impact-than-financial-says-ceo/articleshow/109882571.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/banks/news/following-kotak-mahindra-banks-strong-q4-numbers-analysts-reset-stock-target-up-to-1900-worried-about-reputation-impact-than-financial-says-ceo/articleshow/109882571.cms" target="_blank">Following Kotak Mahindra Bank’s strong Q4 numbers, analysts reset stock target up to ₹1,900; Worried about reputation impact than financial, says CEO</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank">Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot</a>

Coal India's contribution to govt exchequer rises 6.4% to ₹60,140 crore in FY24

<ul class="summary-list"><li>Trump picked Elon Musk and Vivek Ramaswamy to co-lead DOGE, a new government efficiency commission.</li><li>Their aim is to cut government spending, and one idea they've floated is to ax federal agencies.</li></ul>Elon Musk's <a target="_blank" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">government efficiency commission</a> could end up costing some federal workers their jobs.As he and former GOP presidential candidate Vivek Ramaswamy begin to outline their priorities as leaders of the Trump-created Department of Government Efficiency, one of them seems to be eliminating government agencies.Most recently, Ramaswamy <a target="_blank" href="https://www.businessinsider.com/vivek-ramaswamy-doge-wants-to-delete-entire-federal-agencies-2024-11">told</a> Fox News, "We expect certain agencies to be deleted outright."Over 2 million Americans collect their paychecks from <a target="_blank" class="" href="https://www.gao.gov/blog/combatting-discrimination-our-nations-largest-employer-federal-government">the federal government</a>, so Business Insider looked into which agencies employ the most people and what they pay on average.When asked about areas the commission would prioritize for spending cuts, Karoline Leavitt, a spokesperson for the Trump-Vance transition, previously told BI: "The American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. He will deliver."<h2 id="e6f6b74e-0829-43a1-a382-8c22ea402f53">The US government is the largest employer in the country</h2>The <a target="_blank" class="" href="https://www.fedscope.opm.gov/ibmcognos/bi/?perspective=dashboard&amp;pathRef=.public_folders%2FFSe%2B-%2BEmployment%2BDashboards%2FEmployment%2B-%2BCurrent%2BMonth&amp;id=i7402E6149B934CAAA867A1B58E0B4ECE&amp;objRef=i7402E6149B934CAAA867A1B58E0B4ECE&amp;options%5Bcollections%5D%5BcanvasExtension%5D%5Bid%5D=com.ibm.bi.dashboard.canvasExtension&amp;options%5Bcollections%5D%5BfeatureExtension%5D%5Bid%5D=com.ibm.bi.dashboard.core-features&amp;options%5Bcollections%5D%5Bbuttons%5D%5Bid%5D=com.ibm.bi.dashboard.buttons&amp;options%5Bcollections%5D%5Bwidget%5D%5Bid%5D=com.ibm.bi.dashboard.widgets&amp;options%5Bcollections%5D%5BcontentFeatureExtension%5D%5Bid%5D=com.ibm.bi.dashboard.content-features&amp;options%5Bcollections%5D%5BboardModel%5D%5Bid%5D=com.ibm.bi.dashboard.boardModelExtension&amp;options%5Bcollections%5D%5BsaveServices%5D%5Bid%5D=com.ibm.bi.dashboard.saveServices&amp;options%5Bcollections%5D%5BserviceExtension%5D%5Bid%5D=com.ibm.bi.dashboard.serviceExtension&amp;options%5Bcollections%5D%5BlayoutExtension%5D%5Bid%5D=com.ibm.bi.dashboard.layoutExtension&amp;options%5Bcollections%5D%5BvisualizationExtension%5D%5Bid%5D=com.ibm.bi.dashboard.visualizationExtensionCA&amp;options%5Bcollections%5D%5BcolorSetExtensions%5D%5Bid%5D=com.ibm.bi.dashboard.colorSetExtensions&amp;options%5Bconfig%5D%5BsmartTitle%5D=false&amp;options%5Bconfig%5D%5BeditPropertiesLabel%5D=true&amp;options%5Bconfig%5D%5BnavigationGroupAction%5D=true&amp;options%5Bconfig%5D%5BenableDataQuality%5D=false&amp;options%5Bconfig%5D%5BmemberCalculation%5D=false&amp;options%5Bconfig%5D%5BassetTags%5D%5B%5D=dashboard&amp;options%5Bconfig%5D%5BfilterDock%5D=true&amp;options%5Bconfig%5D%5BshowMembers%5D=true&amp;options%5Bconfig%5D%5BassetType%5D=exploration&amp;options%5Bconfig%5D%5BgeoService%5D=CA&amp;subView=model00000185985349dc_00000000&amp;isAuthoringMode=false&amp;boardId=i7402E6149B934CAAA867A1B58E0B4ECE">US Office of Personnel Management</a> showed eight cabinet-level agencies, which are at the center of the executive branch and have heads that report directly to the president, had over 100,000 civilian employees as of March.Almost half a million people were employed in the Department of Veterans Affairs, while the Department of Education had just over 4,000. The Treasury Department had over 100,000 employees as of March. The overwhelming majority of those — about 94,000 — were employed in the Internal Revenue Service.Most departments had six-figure average salaries, with the Department of Education and the Department of Energy having the highest averages.During Ramaswamy's Sunday <a target="_blank" class="" href="https://www.businessinsider.com/vivek-ramaswamy-doge-wants-to-delete-entire-federal-agencies-2024-11">appearance</a> on Fox News, he said, "We expect mass reductions in force in areas of the federal government that are bloated."While neither Trump, Musk, nor Ramaswamy has made clear which departments could be on the chopping block, Trump has targeted the Department of Education in the past, <a target="_blank" class="" href="https://www.youtube.com/watch?v=tscgWCBbeao">saying in 2023</a>: "One other thing I'll be doing very early in the administration is closing up the Department of Education in Washington DC, and sending all education and education work and needs back to the states."Musk <a target="_blank" href="https://www.youtube.com/watch?v=GsYKhVtvm3k">said</a> during October remarks that while the commission's goal is to cut spending by reducing head count, he would consider giving impacted workers "very long severances" that could amount to two years' pay."The point is not to be cruel or to have people not be able to pay their mortgage or anything," Musk said during his October remarks. "We just have too many people in the government sector, and they could be more productive elsewhere."The US Office of Personnel Management <a target="_blank" href="https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay/">wrote on its website</a> that "severance pay is authorized for full-time and part-time employees who are involuntarily separated from Federal service and who meet other conditions of eligibility." A spokesperson for the office told BI that the severance policy is up to date, and it "cannot comment on the actions of future administrations."DOGE is not an official government agency. Past commissions on government spending, like the Grace Commission under former President Ronald Reagan, gave the president and Congress advice on areas to cut. The two leaders of the initiative have started to detail the areas of government spending they're looking to target.While DOGE can advise Trump on agencies to cut, the president-elect cannot act on it alone — making major changes to federal agencies would require congressional approval.Plus, DOGE's goals could still change. It's unclear how exactly the commission will function and whether Congress will approve Musk and Ramaswamy's spending cuts. BI <a target="_blank" href="https://www.businessinsider.com/elon-musk-vivek-ramaswamy-doge-government-efficiency-what-us-spends-2024-11">previously reported</a> that the US spent $6.75 trillion in fiscal year 2024. With Social Security, health programs, and Medicare topping the spending list, they could be on the commission's chopping block. However, Medicare and Social Security are forms of mandatory spending that would require legislation to change.Are you employed by the federal government and have a story to share? Reach out to these reporters at <a target="_blank" class="" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a> and <a target="_blank" class="" href="mailto:mhoff@businessinsider.com">mhoff@businessinsider.com</a>.

Musk's DOGE wants to 'delete' entire government agencies. Here's where the most people are employed and what they make.

In a post-budget interaction with industry stakeholders today, <keyword id="20419783" type="General" weightage="20" keywordseo="revenue-secretary" source="keywords">Revenue Secretary</keyword> Sanjay Malhotra highlighted that the government aims to comprehensively review the <keyword id="19985623" type="General" weightage="20" keywordseo="Direct-Tax-Code" source="keywords">Direct Tax Code</keyword> within the next 6 months, and it is too early to say whether or not that would entail any significant overhauls. However, "we would like to have a collaborative approach for its implementation, and would certainly present the draft for public opinion” Malhotra added. Buybacks taxed as dividend Starting October 1, 2024, the amount received by the shareholder on buyback of his/her shares by the company will be treated as dividend income, and will be taxable at the hands of shareholders. Also, the cost incurred by the investor to acquire those shares will not be allowed as a deduction against the income, but can be set off as a capital loss, only against other <keyword id="20619608" type="General" weightage="20" keywordseo="capital-gains" source="keywords">capital gains</keyword>, for a maximum of 8 subsequent years Malhotra explained the government's rationale behind this proviso, noting that buyback does not fundamentally alter the company's capital structure, and like dividend distribution, is a way for the company to give out its surplus. Moreover, it is up to the investor, whether or not they want to participate in a buyback or not. Hence, going ahead, funds from buyback will be deemed as dividend income. Credit on TCS paid Previously, in case your employer has already deducted TCS (tax collected at source) from your monthly salary, it would not be accounted for, or considered while calculating your annual tax liability. As a result, it had to be claimed back separately as a refund, resulting in duplication of processes. However, effective April 1, 2025, salaried employees will be able to adjust the TCS they've already, previously paid while calculating their tax due. The Old tax regime heading towards a sunset? While the officials have given no clarity on this, they noted that the idea of taxation is not to push people into investing, saving or buying insurance for the sole purpose of saving taxes as the old regime did. "It is a moral debate on whether tax regimes are supposed to push people towards financial planning measures like buying health or life insurances. However, as we go ahead, the focus will entirely on greater, more deep-rooted focus on how tax filing and compliance can be simplified and transformed into a hassle-free, smooth process. The new tax regime was finding increased grounding amongst both investors and corporates. For the previous assessment year, 2/3rd of total taxpayers had opted for the new tax regime, while 58% of corporate tax flows had come via them. Loss of indexation benefit only psychological Raman Chopra, Joint Secretary, CBDT, <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> noted that scrapping away indexation benefits is only psychological, and tax payers will not have to bear any real losses as such. "Indexation was a complicated process. Think of this as the cost of simplification of the tax process. Now, we only have two holding periods across all asset classes, making it easier. While indexation benefits continues for properties purchased before 2001, investors continue to receive rollover benefits in case they find that their tax incidence under the reduced tax rates is high.

Comprehensive review of the IT Act imminent in 6 months, notes revenue secretary

<ul><li>Union <keyword id="19955368" type="General" weightage="100" keywordseo="budget-2024" source="keywords">Budget 2024</keyword> to be presented on July 23, 2024, at 11 am</li><li>Changes in the new <keyword id="19901478" type="General" weightage="20" keywordseo="income-tax" source="keywords">income tax</keyword> regime possible in the budget </li><li>Budget is a detailed estimate of the government's revenue and expenses</li></ul>Next week, Nirmala Tai will present the 2024 <keyword id="19908389" type="General" weightage="20" keywordseo="union-budget" source="keywords">union budget</keyword>. While the internet is already abuzz with the endless expectations of different industries and sectors, what the common man wishes for, and more, are we aware of how the budget comes to life in the first place? What do some of its terms like expenditure and revenue budgets even mean? And what exactly is the finance bill? If you have all these questions running through your mind, here's a ready reckoner for you, answering all your questions 1. Why should I care about the budget? Most of all, because it holds the answer to how your money will be taxed in the coming financial year, or years. Yes, you can (and perhaps will) choose to gloss over most of it, like when Tai talks about its capital expenditure or allocations made to various ministries. But you should know if there are any major changes introduced in the existing income tax slabs, because that would mean an automatic increase or decrease in your taxes. If there are some deductions or exemption that have just been introduced and can help you reduce your taxable income, you'd certainly want to use it to your benefit, wont you? (Unless you're a stickler for paying high taxes)! But for that, you should first know how your hard-earned money is being taxed, and that is why, you should tune into the <a href="https://www.businessinsider.in/budget/article/budget-2024-a-handy-guide-for-major-terms-around-the-upcoming-union-budget/articleshow/111688482.cms" data-type="tilCustomLink" target="_blank">upcoming union budget</a>. 2. What will happen to Income taxes in this budget? Will they be cut? We wouldn't know anything for sure until July 23rd, but there is news that the new tax regime might be made more attractive for the salaried class by way of increasing the <keyword id="20429578" type="General" weightage="20" keywordseo="standard-deduction" source="keywords">standard deduction</keyword> threshold (which is currently Rs 50,000 for both old and new regime), or by raising the total deduction limit under the old regime from the present Rs 2,00,000. Akhil Chandna, Partner at Grant Thornton Bharat also believes enhancing the standard deduction limit will do a world of good to salaried Indians. "With the introduction of the standard deduction in 2018 and the last increase in 2019 from ₹ 40,000 to ₹ 50,000, it is essential to raise the threshold to ₹75,000 now to align with current living costs and inflation. Raising the standard deduction can help improve people's purchasing power, especially those with fixed incomes like pensions", he said. Krishan Mishra, CEO, FPSB India also wishes for the tax exemption limit under new regime be raised from Rs 7 lakh to Rs 10 lakh, since "it will be a crucial step to encourage savings and investments among the mid-income group and will provide much-needed relief to taxpayers". The government may make the new tax regime more lucrative by enhancing its basic exemption limit (up to which no income tax is payable) from Rs 3,00,000. But that's a lot of MIGHTS, that will have to wait the final bell till 23rd! 3. How is the Budget is prepared? It is a lengthy, long-drawn process, which starts with the finance ministry asking all departments, states, ministries and union territories to give them an estimate of how much money they'd potentially need during the year. In addition to this, they also have to present details of all their revenues and expenditures in the past year. Then begins a super duper long process of consultations and discussions and deliberations and consultations and dialog (you get the gist!), after which the allocations are made. Weeks before the budget presentation, the <keyword id="19956758" type="General" weightage="20" keywordseo="finance-minister" source="keywords">finance minister</keyword> also meets representatives from various industries like agriculture, trade, manufacturing and more to know what they want. Based on that, the budget is fine tuned. 9-10 days before the budget is to be presented in the parliament, a halwa ceremony takes place, which commenced today, marks the start of budget printing. From this time on, the finance ministry staff goes super hush-hush and in lockdown, with no one allowed to leave the ministry premises till the budget is tabled in the parliament. 4. Why did India have 2 budgets this year? Because 2024 was an election year. That is why you saw an <keyword id="547606" type="General" weightage="20" keywordseo="Interim-budget" source="Orion">interim budget</keyword> in February, where the government presented a budget, the aim of which was just to fund its regular expenses and spending over the next 2-3 months, till elections. After the elections, it is the responsibility of the newly elected government to prepare a full-fledged budget. Think of this as borrowing from your friends just to fund your mid-month, small term, interim cash crunch. You pay them back as soon as you get your salary, and your budget is set again (at least for the time being!) 5. What are the various types of budget documents The union budget is a hefty set of documents! There's Annual Financial Statement, which lays out how much money it needs in revenue, and how much does it plan to spend that during the year. There's demands of grants, which tells us how these receipts and expenditures will be utilised by different ministries and departments, down to each scheme. There's the finance bill, which outlines any changes the government intends to make, in order to raise these proposed funds. This primarily includes change in tax structures. Then there is appropriation bill, which highlights how the government plans to withdraw money from the consolidated fund of India (where all of government's revenue from income tax, customs and excise and other sources flow in). Once approved, both finance and appropriation bill become acts. The extremely complex sounding "medium term fiscal policy cum fiscal policy strategy statement" has all your important macro- economic indicators like GDP, fiscal deficit, revenue deficit, primary deficit and more. But of course, you can skip through all this to just check out budget at a glance and highlights, which presents the key features and decisions made in the budget in a concise manner. <h4 style="color: rgb(0, 0, 0); font-family: Mulish, sans-serif; font-size: 16px; white-space-collapse: preserve; background-color: rgb(255, 255, 255); text-align: justify;"> </h4>6. What is a revenue and <keyword id="2745241" type="General" weightage="20" keywordseo="expenditure-budget" source="Orion">expenditure budget</keyword>? Think of this as a detailed breakdown of how the government plans to raise money for everything during the year by of tax or non-tax revenues, borrowings and more. The <keyword id="425836" type="General" weightage="20" keywordseo="revenue-budget" source="Orion">revenue budget</keyword> also outlines how much revenue the government had to forego to fund various tax incentives or subsidies. There's no chance you wont spend what you've earned! And so, how the government plans to spend its receipts are mentioned in the expenditure budget. It highlights what each ministry gets, how much money will be spent on a certain scheme and more. 7. What is a populist budget? No, its not another budget document, but just a fancy name for a budget that is prepared with the sole intention to appeal to the people by slashing down income taxes, increasing subsidies and spending more on social schemes. Such a budget might seem lucrative in the short run, but it do not contribute to the country's long-term economic development in any way. On the contrary, it only adds to the overall fiscal burden of the country. Its as if a character came in for a short cameo in your favorite series, won people's hearts, and then vanished into thin air, with no meaningful contribution to the story line. You'd feel short-changed, wont you? So, time to listen to Nirmala Tai and the budget's humdrums with some understanding and interest! Also read: <a href="https://www.businessinsider.in/budget/news/budget-2024-how-will-budget-affect-indias-position-in-the-global-space-race/articleshow/111855546.cms" data-type="tilCustomLink" target="_blank">Budget 2024: How will budget affect India’s position in the global space race?</a> <a href="https://www.businessinsider.in/budget/article/despite-pandemic-and-growing-health-scares-indias-budget-share-for-healthcare-continues-to-decline/articleshow/111807009.cms" data-type="tilCustomLink">Despite pandemic and growing health scares, India’s budget share for healthcare continues to decline</a>

Union Budget 2024: A handy FAQ guide to decode the upcoming budget

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

<ul class="summary-list"><li>An Idaho couple retired with a net worth of over $2 million by living frugally and making smart investment choices.</li><li>Richard learned investment strategies later in life after losing thousands in the dot-com bubble.</li></ul>Richard, who is in his mid-70s, never held a very high-paying job and made various <a target="_blank" class="" href="https://www.businessinsider.com/a-successful-investor-shares-the-top-money-mistakes-she-made-2024-8">investment mistakes</a> that cost him thousands over his life.However, the Idaho resident said living <a target="_blank" class="" href="https://www.businessinsider.com/early-retirement-not-worth-it-dad-sacrificed-frugal-died-2024-9">frugally</a>, prioritizing <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/best-ira-accounts">retirement accounts</a>, and making smart <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-financial-independence-retire-early-fire-investing-real-estate-2024-7">real estate</a> decisions allowed him and his wife to retire comfortably with over $2 million in assets after a career in state government and consulting.Richard learned about investment strategies later in life after losing thousands in the <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-crash-dot-com-bubble-similarities-ai-nvidia-roberts-2024-6">dot-com bubble</a>. After that, he said his path to growing wealth was modest and careful. He asked to use his first name only for privacy concerns.His path is indicative of the "<a target="_blank" class="" href="https://www.businessinsider.com/millionaire-investing-saving-spending-financial-independence-retire-early-fire-2024-9">millionaire next door</a>" mindset, which involves concerted efforts to save and invest using very accessible strategies, rather than flashy but risky get-rich-quick schemes or landing an elite, ultra-high-paying career. Still, he acknowledged that <a target="_blank" class="" href="https://www.businessinsider.com/retirement-savings-medical-costs-baby-boomers-paying-for-cancer-treatment-2024-9">not all retirees</a> have the resources to save a substantial amount for their retirement."Having a work ethic has helped me throughout my life not just in accumulating wealth but in having people recognize that I'm a reliable person," Richard said. "You have to be honest, you have to be kind, and you have to help other people."<h2 id="6b034785-0a70-4458-8ecf-bf9e2feb864d">Saving up but making mistakes</h2>Richard said his "near-ideal" upbringing taught him the value of money and hard work.As a teenager, he worked as a paperboy, produce clerk, ice cream vendor, and root beer stand cashier. He estimated earning about $5.25 a week in high school, or about $53 in 2024 dollars."I realized the value of money because it gave me this independence to buy the clothes I wanted to buy, allowed me to buy Christmas presents for my siblings and parents," Richard said.He also acknowledges that he grew up in a time when life's necessities were more affordable. In his small, middle-class hometown in Illinois, he said a family could be supported on one income. He worked and <a target="_blank" class="" href="https://www.businessinsider.com/pinching-pennies-wealth-building-2024-8">lived frugally</a> while attending the University of Illinois, which he said cost just $173 his first semester. He paid back his student loans right after graduating with a psychology degree.While serving in the Air Force for nearly six years, he purchased a modest home in Sacramento. He and his wife grew food in their garden and made granola from scratch. He said he sold the house when its value doubled."I never really thought about what my financial goals were until later," Richard said. "I remember coming home one Sunday, and I said I really don't want to have a middle-class existence. I would like to do better if I can."In graduate school, he worked as a teaching assistant, started investing using his stockbroker friend's advice, and bought a condo. He admitted because his parents weren't financially savvy, he wasn't a "very disciplined saver or investor," though he knew never to go into major <a target="_blank" class="" href="https://www.businessinsider.com/millennial-phd-cant-find-job-significant-student-loan-debt-2024-10">debt</a>.He said he wasn't always sure how to invest properly. Some now-common vehicles intended to make it easy for everyday savers to make diversified investments, like <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-an-etf">exchange-traded funds</a>, weren't yet invented, and he said he invested too heavily in penny stocks and riskier investments. He decided to save and invest as much as possible while building his IRA and paying off his existing loans.While his career has been fairly stable, he weathered two layoffs and lost thousands in investments when the dot-com bubble burst in 2000."I haven't been a disciplined, smart investor throughout my life, but I have always lived frugally," Richard said. "I purchased real estate and invested whenever the opportunity arose, so it's an imperfect background. But it shows that even if you make those kinds of <a target="_blank" class="" href="https://www.businessinsider.com/money-mistakes-financial-planner-2024-5">mistakes</a>, it's still possible to accumulate wealth."<h2 id="a516b46e-8a92-403c-a73b-33aa525bce3a">How they're investing in retirement</h2>Richard maintained his frugality as he inched closer to retirement, avoiding big-ticket items.Richard retired at 62 when he realized he could be "liberated from a <a target="_blank" class="" href="https://www.businessinsider.com/gen-xers-financial-independence-retire-early-fire-started-saving-late-2024-6">lifetime of labor</a>" and had enough saved. He waited until 65 to claim Social Security, noting he never wanted to rely solely on Social Security for his retirement. His wife retired in 2013, and their assets now total about $2 million, split evenly between their investments and their house.They live comfortably on about $3,500 monthly in <a target="_blank" class="" href="https://www.businessinsider.com/boomer-living-on-social-security-retirement-savings-401k-bus-driver-2024-7">Social Security</a> and dividends from investments, investing about $25,000 annually with annual dividends of about $120,000. Richard said they have long-term care insurance and reserved much of their money for healthcare expenses.Richard described his investment strategy as "somewhat atypical." They primarily invest in mutual funds that pay consistently high dividends of about 10%. At their age, Richard said he wants to eliminate individual stocks."Although market values can decline or rise, we just stay focused on the rate of return and hope that will not change appreciably," Richard said. "So far, this is working, and we are satisfied to have a steady income without having to sell funds to generate revenue."They still live within their means, but they occasionally take international trips. They keep costs low by flying economy, avoiding expensive restaurants, never going on tours, and staying in Airbnbs."I've never stayed at a five-star hotel, and I've almost always had used cars," Richard said. "We don't order takeout every day, and we might go to a restaurant once a week. Add that up, and you're saving tens of thousands of dollars."In retirement, Richard has produced over 70 books about his hometown, American history, and trail guides. He's also directed a local community group and now volunteers as a tour guide."Retirement has been a total joy; it's similar to having a second childhood where you have complete freedom, and your job is to keep yourself entertained," Richard said.Are you part of the FIRE movement or living by some of its principles? Reach out to this reporter at <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a>.

A boomer who retired with a $2 million net worth despite working modest jobs shares his advice on retiring comfortably

<ul class="summary-list"><li>YouTube dominates streaming TV viewing, surpassing Netflix in 2023 viewership metrics.</li><li>Streaming now accounts for 39% of TV viewing time, with YouTube leading for 12 months.</li></ul>People are catching on to the fact that YouTube is ruling TV.Streaming is quickly replacing traditional TV, and the place people are spending much of their time watching streaming video is YouTube.The Google-owned video platform dominated streaming TV viewing for all of 2023, ahead of Netflix, by one widely cited measurement. YouTube is increasingly becoming today's "must-see" TV for people, especially younger generations, with free videos uploaded by creators like MrBeast; free, ad-supported shows and movies from big Hollywood distributors like Disney, Warner Bros. Discovery, and Paramount; and live sports via YouTubeTV add-on, <a target="_blank" href="https://www.businessinsider.com/youtube-lands-nfl-sunday-ticket-deal-2-billion-per-year-2022-12?r=youtube-revenue-lp">NFL Sunday Ticket</a>,It's also pitching itself as a one-stop entertainment shop with Primetime Channels, a 2-year-old service that lets users subscribe directly to streaming services like Showtime, Starz, and Paramount+ through YouTube.YouTube is winning with advertisers because it can service everyone from local pizza shops to CPG giants like Procter &amp; Gamble.Here's a breakdown of YouTube's rise and what it means for other entertainment players competing for people's attention and the advertisers trying to reach them.<h2 id="00f9fd10-3d89-4d8b-ba2a-ea8cc4a05c77">How big is YouTube's viewership and user base?</h2>Any way you slice it, YouTube is enormous. It's the most used Android app after TikTok, with users averaging 28 hours a month, according to a <a target="_blank" href="https://datareportal.com/reports/digital-2024-global-overview-report">widely cited data report from January 2024.</a> It was estimated to have the biggest social-media advertising audience, with 2.5 billion users per month, as of that January report.In streaming, which now accounts for nearly 39% of people's TV viewing time, YouTube has been winning hands down for some time now. YouTube dominated view time for 12 months in a row, <a target="_blank" href="https://www.nielsen.com/insights/2024/colder-weather-and-nfl-playoffs-drive-increased-tv-usage-in-january/">according to Nielsen</a>. In May, YouTube accounted for 9.7% of viewing time, ahead of Netflix's 7.9%.With 500 hours of videos uploaded every minute, YouTube pitches itself as a place that serves every possible interest, from creator content to music, news, educational videos, and more.The Gauge, which Nielsen launched in 2021, isn't a complete picture of TV viewing. It only measures viewership on TV sets, not mobile devices. It also only includes free YouTube, not YouTube TV, YouTube's <a target="_blank" href="https://www.businessinsider.com/youtube-tv-google-fastest-growing-product-leaked-numbers-2023-11">fast-growing pay TV service</a>. Based on paid subscriptions, Netflix still reigns, with about 270 million subscribers worldwide.Meet the <a target="_blank" href="https://www.businessinsider.com/youtube-power-list-2020-33-insiders-leading-the-company-2020-4?r=youtube-revenue-lp">33 people with the most power at YouTube</a>, the world's biggest online video companyLooking at media consumption another way, Nielsen recently released its Media Distributor Gauge, which reflects total viewing by media distributors across broadcast, cable, and streaming. With those platforms included, YouTube takes second place in monthly TV viewing, behind linear giant Disney, which had an 11.5% share.Still, there's no denying YouTube's enormous reach, which it has leveraged to become an advertising powerhouse.<h2 id="7e2fd4f3-c440-45e6-b563-4aa6e96f7899">YouTube quarterly revenue hit $8.1 billion, but some brands still shy away</h2>YouTube's user-generated content continues to concern big brands that insist on major quality control. It doesn't seem to have discouraged them too much, however. YouTube had $8.1 billion in advertising revenue in the first quarter of 2024, up 20% over the year-ago quarter, while linear TV revenue is declining as audiences shift over to streaming.Learn how <a target="_blank" href="https://www.businessinsider.com/youtube-faces-new-challenges-in-bid-for-tv-streaming-ads-2023-11?r=youtube-revenue-lp">YouTube faces challenges</a> as rivals offer TV streaming scale for the first timeYouTube also benefited when the Hollywood strikes shut down TV productions, leading advertisers to look for alternatives to network TV.Read about how YouTube is <a target="_blank" href="https://www.businessinsider.com/tv-upfronts-youtube-plan-to-capitalize-top-streaming-status-2024-5?r=youtube-revenue-lp">pitching Madison Ave</a> for TV dollars<h2 id="165d8086-b670-40f0-a089-eedd65e80dc4">How YouTube became a TV giant</h2>YouTube touts its revenue-sharing model to fund creator content as a key strength, saying that, unlike the traditional Hollywood studio model, it ensures that it continually produces hits. YouTube trumpeted that in the past three years, it paid out <a target="_blank" href="https://blog.youtube/inside-youtube/shorts-revenue-sharing-update">$70 billion</a> to creators, artists, and media companies, which makes it a bigger spender on content than Netflix.Read Business Insider's analysis of YouTube's <a target="_blank" href="https://www.businessinsider.com/youtube-not-netflix-is-big-threat-to-hollywood-analysis-2024-2?r=youtube-revenue-lp">domination of the living room</a>Along the way, it's launched products that promise a high-quality environment for advertisers, like YouTube Select, which <a target="_blank" href="https://www.businessinsider.com/youtube-launches-youtube-select-for-70-billion-tv-market-2020-5?r=youtube-revenue-lp">lets advertisers run ads on</a> the top 5% of its most popular programming. In 2023, YouTube reached a deal to make NFL's Sunday Ticket games an add-on for YouTube TV subscribers.Read Business Insider's story about how <a target="_blank" href="https://www.businessinsider.com/youtube-tv-fourth-biggest-pay-tv-cable-broadband-bundle-google-2024-2?r=youtube-revenue-lp">YouTube has become one of the biggest pay-TV services</a> in the USYouTube's reach in entertainment stretches beyond TV viewing. In February, it <a target="_blank" href="https://blog.youtube/news-and-events/youtube-music-premium-100-million-subscribers/">announced</a> that it hit 100 million subscribers to YouTube Premium and Music, including free trials. YouTube Premium is a $13.99 a month service that includes features like ad-free viewing, offline viewing, and YouTube Music (which is ad-free). YouTube Music is $10.99 a month. <a target="_blank" href="https://www.businessinsider.com/youtube-tv-fourth-biggest-pay-tv-cable-broadband-bundle-google-2024-2?r=youtube-revenue-lp">YouTube TV</a> is a $72.99 a month bundle of TV channels.See new data showing how YouTube's <a target="_blank" href="https://www.businessinsider.com/youtube-has-become-must-have-service-ahead-of-netflix-2024-6?r=youtube-revenue-lp">push into other entertainment services</a> is beating Netflix in the fight to be a 'must-have' service<h2 id="2f587e93-6904-4446-a6e1-a35d317c5b81">How YouTube works with creators</h2>YouTube has lately been <a target="_blank" href="https://blog.youtube/inside-youtube/shorts-revenue-sharing-update">touting</a> how much it pays out to creators. It says it now shares revenue with 25% of creators in its YouTube Partner Program through Shorts, its TikTok competitor. Those <a target="_blank" href="https://www.businessinsider.com/how-much-money-youtube-pays-for-1000-views-creator-rpm?r=youtube-revenue-lp">creators get 45% of the ad revenue</a> generated (after an undisclosed amount goes to record labels) on those videos, which run 60 seconds or less; creators of long-form videos get 55% of the ad revenue.Read more about how <a target="_blank" href="https://www.businessinsider.com/how-much-money-youtube-pays-for-1000-views-creator-rpm?r=youtube-revenue-lp">YouTube pays creators</a>YouTube emphasized that creators are making money from the platform in other ways. YouTube is also promoting gen AI tools that it's giving creators to boost their videos and music.Learn <a target="_blank" href="https://www.businessinsider.com/how-much-influencers-get-paid-on-instagram-tiktok-youtube#directly-from-youtube?r=youtube-revenue-lp">how influencers get paid and make money</a> on TikTok, Instagram, and YouTube<h2 id="ba706781-6519-4256-b1b5-05020b72462e">Young people prefer YouTube over Netflix and Disney+</h2>A common knock on YouTube is that it's largely low value. Yet, tell that to younger people, who prefer to spend time with YouTube over entertainment stalwarts from <a target="_blank" href="https://www.businessinsider.com/disney-bought-owns-hulu-valuation-explained-whats-next?r=youtube-revenue-lp">Disney</a> to <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4?r=youtube-revenue-lp">Warner Bros. Discovery</a>.YouTube dominates in areas important to Gen Z (user-generated video) and not where it matters less (<a target="_blank" href="https://pro.morningconsult.com/trend-setters/gen-z-interest-in-watching-sports">live sports)</a>.New research from Deloitte shows members of Gen Z prefer to watch social video and livestreams (47%) about twice as much as TV shows (24%) and four times as much as movies (11%). Surveys also show similar patterns among Gen Alpha.Those preferences could change as they age, but that would entail changing not just what they watch, but their preferred devices.Explore why Gen Z's preference for YouTube is a <a target="_blank" href="https://www.businessinsider.com/streamers-like-netflix-disney-max-have-a-gen-z-problem-2024-3?r=youtube-revenue-lp">problem for streamers like Netflix and Disney+</a><h2 id="21af02c6-099c-42be-83db-091eb456a5d8">What YouTube's rise means for Netflix and other entertainment companies</h2>YouTube's hold on young people suggests a brighter future for YouTube than Netflix and traditional media companies, whose businesses depend on subscriptions as well as advertising.Deloitte found that Gen Zers were three times more likely to be influenced by ads on social media than streaming.The survey found that people of all ages are questioning the value of streaming media, where subscription prices have been rising, and about half feel it's hard to find something to watch.Legacy entertainment companies have come to treat YouTube as a distributor, acknowledging they can't very well ignore its enormous reach. But in doing so, they're playing on a platform whose rules they can't control.Read how a <a target="_blank" href="https://www.businessinsider.com/gaggl-tv-gen-z-creator-startup-twitch-founders-2024-4?r=youtube-revenue-lp">new startup from 2 Twitch alums</a> is trying to get Gen Z to watch TV<h2 id="02f14016-7316-47c9-8eb2-3182f347a0c4">YouTube's dominance faces fresh challenges</h2>YouTube's dominance has made it the target of critics. It's been <a target="_blank" href="https://www.bloomberg.com/news/articles/2019-07-15/youtube-s-trampled-foes-plot-antitrust-revenge">accused</a> of violating children's privacy. <a target="_blank" href="https://www.reuters.com/technology/youtube-critics-ask-us-probe-video-sites-living-room-dominance-2024-06-12/">Critics</a> have asked the government to probe Google and YouTube's dominance.It also continues to face brand safety concerns by advertisers as well as increased competition now that all the major streamers have ad tiers. YouTube's user-generated content continues to concern big brands that insist on more quality control, while other streamers say they guarantee a low-risk environment for advertisers.YouTube's reputation got renewed attention in June 2023 when advertising analytics company Adalytics <a target="_blank" href="https://www.wsj.com/articles/google-violated-its-standards-in-ad-deals-research-finds-3e24e041">shared research</a> showing Google violated its standards when it ran advertisers' video ads on other websites. A <a target="_blank" href="https://www.businessinsider.com/ipg-mediabrands-privacy-alert-pause-google-performance-max-ads-2023-8?r=youtube-revenue-lp">subsequent Adalytics report</a> alleged YouTube served ads that may have led to improper tracking of kids online. Google has disputed those reports.Finally, many advertisers have become fed up with Google's dominance of the ad ecosystem (which is now under <a target="_blank" href="https://www.cnbc.com/2023/01/24/doj-files-second-antitrust-lawsuit-against-google.html">antitrust scrutiny</a>) and <a target="_blank" href="https://www.businessinsider.com/how-much-streaming-ads-cost-amazon-netflix-youtube-disney-2023-11?r=youtube-revenue-lp">have more options</a> to spend their marketing budgets these days.

How YouTube became a TV powerhouse and how much ad revenue it makes 

<ul class="p-rich_text_list p-rich_text_list__bullet"><li>A media report said that DIPAM Secretary confirmed the withdrawal of its decision of sharing revenue from convenience fees.</li><li>The government had yesterday asked <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> to share 50% of revenue coming from service charts on e-ticketing, i.e., convenience fees.</li><li>Shares of IRCTC, which had slipped more than 25% on Friday morning, recovered on this news.</li></ul>The Indian government has reportedly withdrawn its decision of asking 50% of Indian Railway Catering and Tourism Corporation’s (IRCTC) revenue from convenience fees. CNBCTV-18 reported that the secretary at the department of investment and public asset management (DIPAM) confirmed the withdrawal of its decision of sharing revenue from convenience fees. Shares of IRCTC recovered after a sharp fall on Friday morning trade on the announcement of sharing half of its <a href="https://www.businessinsider.in/business/corporates/news/government-asks-irctc-to-share-half-of-its-convenience-fees-revenue/articleshow/87338962.cms">convenience fees </a>with the government. On October 28, after the railway company informed stock exchanges of the government’s decision, many investors had criticised the move on social media portals. Shares of Indian Railway Catering and Tourism Corporation recovered after losing more than 25% in the early trade on announcement of government asking IRCTC 50% of revenue coming from service charts on e-ticketing, i.e., convenience fees, with the government. The move came as a big shock to investors as it meant IRCTC would have to share a chunk of its revenue with the government. In FY21, IRCTC earned ₹299 crore from this segment, which is almost 40% of its revenue from operations of ₹783 crore. At 11:11 a.m. shares of the company were trading 4% lower at 875.95 per share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/irctc-infosys-interglobe-aviation-and-other-trending-stocks-on-october-29/slidelist/87352424.cms">IRCTC, Infosys, InterGlobe Aviation and other trending stocks on October 29</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/zerodha-founders-rakesh-jhunjhunwala-zohos-radha-vembu-akshay-kumar-and-more-donate-up-to-50-crore-in-fy21/slidelist/87340238.cms">Zerodha founders, Rakesh Jhunjhunwala, Akshay Kumar and more donate up to ₹50 crore in FY21</a>

IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share

<ul><li>The net profit of <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> grew nearly five-fold in the July-September quarter, while <keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> recorded a 300% uptick.</li><li><keyword id="54613" type="General" weightage="20" keywordseo="makemytrip" source="Orion">MakeMyTrip</keyword> cut its loss to a third and its revenue touched $67 million in the last quarter.</li><li>The segment is expected to see a greater push as revenge travel grows and cases of COVID-19 continue to lay low.</li></ul>Indian Railways Catering and Tourism Corporation (IRCTC) as well as online ticketing platforms EaseMyTrip and MakeMyTrip have increased their net profit in the July to September quarter of 2021, which hints towards a strong recovery for the travel and hospitality sector that has been majorly impacted by the COVID-19 pandemic since March 2020. The net profit of IRCTC grew nearly five-fold compared to last year. Its revenue, on the other hand, grew four-fold in the same time frame. The company has further doubled its financial metrics compared to the April-June quarter of 2021 that was clouded by the second wave of COVID-19. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506492" hostid="261"></div> EaseMyTrip — which is operated by Easy Trip Planners Limited — reported over 330% year-on-year increase in its consolidated net profit. The company’s revenue has grown another 164% year-on-year to ₹59.7 crore in the July-September quarter. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506502" hostid="261"></div> “We have witnessed strong recovery in demand across our segments and are optimistic of the demand scenario going forward on the back of strong tailwinds in terms of revenge travel and recovery in the travel and tourism industry,” EaseMyTrip noted in its financial statement released on November 3. The company believes that India’s travel segment will witness a ‘U-shaped recovery’, with domestic travel taking a leap over international travel. The company’s share prices catapulted 5% post its financial performance. The shares of EaseMyTrip were trading at ₹531 at 11:35 a.m., on November 3. MakeMyTrip — which is the largest player in the online ticketing space — too reported a much stronger growth in the July to September quarter. The company’s revenue grew 219% year-on-year to $67 million (about ₹500 crore). Its loss was cut nearly by a third to $8 million (about ₹60 crore). <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506518" hostid="261"></div> MakeMyTrip and EaseMyTrip both witnessed a strong demand in air travel, which was a major contributor to its revenue. The company offers booking of air tickets, bus tickets, train tickets, hotels and holiday packages, among other services. IRCTC, on the other hand, provides ticketing, catering and tourism services for Indian Railways. “MakeMyTrip continued to lead and be instrumental in the recovery of travel in India as the country’s new daily reported COVID-19 infections have declined significantly since May 2021, aided by over one billion vaccine doses that have been administered so far. The results of the reported fiscal quarter clearly showcases the durable strength of its multiple brands, driven by its relentless focus on serving its customers with the best possible experience for their travel booking needs,” Deep Kalra, group executive chairperson of MakeMyTrip, said. Other players in the segment are Goibibo (owned by MakeMyTrip), Cleartrip (acquired by Flipkart), publicly traded Yatra, initial public offering (IPO)-bound ixigo and more. SEE ALSO <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-may-soon-allow-you-to-delete-messages-going-back-several-years/articleshow/87500597.cms" data-type="tilCustomLink">WhatsApp may soon allow you to delete messages going back several years</a> <a href="https://www.businessinsider.in/stock-market/news/data-analytics-firm-latent-view-analytics-ipo-to-open-on-november-9/articleshow/87501115.cms" data-type="tilCustomLink">Data analytics firm Latent View Analytics’ IPO to open on November 10</a> <a href="https://www.businessinsider.in/stock-market/news/policybazaar-ipo-today-is-the-last-day-to-subscribe/articleshow/87489212.cms" data-type="tilCustomLink">PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150</a>

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